Norges Bank Makes New $14.62 Million Investment in JetBlue Airways Co. (NASDAQ:JBLU)

Norges Bank bought a new stake in shares of JetBlue Airways Co. (NASDAQ:JBLU - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,860,579 shares of the transportation company's stock, valued at approximately $14,624,000. Norges Bank owned about 0.54% of JetBlue Airways at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. CIBC Asset Management Inc boosted its stake in JetBlue Airways by 6.4% during the 4th quarter. CIBC Asset Management Inc now owns 30,416 shares of the transportation company's stock valued at $239,000 after purchasing an additional 1,823 shares during the period. Xponance Inc. raised its holdings in shares of JetBlue Airways by 10.2% during the fourth quarter. Xponance Inc. now owns 22,613 shares of the transportation company's stock valued at $178,000 after buying an additional 2,095 shares during the last quarter. Blue Trust Inc. boosted its position in shares of JetBlue Airways by 130.8% during the fourth quarter. Blue Trust Inc. now owns 4,478 shares of the transportation company's stock worth $35,000 after buying an additional 2,538 shares during the period. Bogart Wealth LLC grew its holdings in JetBlue Airways by 67.8% in the 4th quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company's stock worth $55,000 after buying an additional 2,850 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in JetBlue Airways by 85.8% in the 4th quarter. GAMMA Investing LLC now owns 8,353 shares of the transportation company's stock valued at $66,000 after acquiring an additional 3,857 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at JetBlue Airways

In related news, CFO Ursula L. Hurley sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $7.50, for a total value of $112,500.00. Following the transaction, the chief financial officer now owns 41,833 shares in the company, valued at approximately $313,747.50. This represents a 26.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Nik Mittal acquired 100,000 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average cost of $6.14 per share, for a total transaction of $614,000.00. Following the transaction, the director now owns 116,443 shares of the company's stock, valued at approximately $714,960.02. This represents a 608.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.18% of the company's stock.

Wall Street Analyst Weigh In

JBLU has been the topic of a number of research analyst reports. Bank of America lowered their price target on JetBlue Airways from $5.25 to $4.25 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. Susquehanna dropped their price target on shares of JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. UBS Group decreased their price objective on shares of JetBlue Airways from $5.00 to $3.00 and set a "sell" rating for the company in a report on Monday, April 7th. Raymond James upgraded shares of JetBlue Airways from a "market perform" rating to an "outperform" rating and set a $5.00 price objective on the stock in a research note on Monday, April 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded JetBlue Airways from a "buy" rating to a "hold" rating and cut their target price for the stock from $9.00 to $7.00 in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, JetBlue Airways presently has a consensus rating of "Hold" and a consensus price target of $5.17.

JetBlue Airways Stock Up 0.5 %

Shares of JBLU traded up $0.02 during mid-day trading on Friday, reaching $3.71. The company's stock had a trading volume of 22,581,028 shares, compared to its average volume of 18,310,564. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -1.59 and a beta of 1.69. The business has a fifty day moving average of $5.71 and a 200 day moving average of $6.50. The company has a quick ratio of 1.18, a current ratio of 1.10 and a debt-to-equity ratio of 3.08. JetBlue Airways Co. has a 1 year low of $3.47 and a 1 year high of $8.31.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.21. JetBlue Airways had a negative return on equity of 9.31% and a negative net margin of 8.57%. During the same period in the prior year, the company posted ($0.19) earnings per share. As a group, analysts forecast that JetBlue Airways Co. will post -0.69 earnings per share for the current fiscal year.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.